It's not all bad news for ASX All Ords shares on Tuesday. Here are some major winners

Why did these ASX All Ords shares climb higher today? Let's take a look.

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Key points

  • Some ASX All Ords shares defied the broader market fall on Tuesday
  • DGL Group and Lark Distilling both gained upwards of 13%
  • Maas Group and Incitec Pivot also finished well in the green

The All Ordinaries Index (ASX: XAO) fell again on Tuesday, ending the session down 0.07% to 7,345.40 points.

It wasn't bad news across the board though, with four sector indices finishing in the red and seven glowing green.

The S&P/ASX Real Estate Index (ASX: XRE) was the biggest weight, falling 1.30%. The S&P/ASX Information Technology Index (ASX: XIJ) saw the biggest gains, up 1.68%

Let's take a look at some of the ASX All Ords that defied the drop to post big gains.

DGL Group Ltd (ASX: DGL)

The DGL Group share price closed 16.67% higher to $1.72.

The specialist chemicals company held its annual general meeting today and announced the results this afternoon.

DGL confirmed it expects to report underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) in the range of $70 million to $72 million in FY23. This will be up from $65.6 million in FY22.

The guidance seems to have gone well with investors, who pushed the DGL share price up from the open.

Among the issues voted on and passed at the meeting included re-electing DGL chairman Peter Lowe and non-executive director Robert Mckinnon.

Lark Distilling Co Ltd (ASX: LRK)

The Lark Distilling share price was another winner on Tuesday, soaring 13.95% to $2.45.

Unlike DGL Group, there was no news from the ASX All Ords share today to make sense of the surge in its share price.

The last announcement the craft spirits company made was on 4 November, appointing Satya Sharma as its CEO. Sharma will take the lead role of the company in May next year and will help lead Lark Distilling into a new phase of growth for the company, the release said. The Lark share price jumped 9% on that news.

Back in July, the business reported its Q4 results for FY22. Highlights included revenue surging 72% from the previous corresponding period to a record $6.8 million and generating a positive cash flow of $1.3 million.

Maas Group Holdings Ltd (ASX: MGH)

The Maas Group share price surged 9.73% to end the day at $2.48.

It might be surprising to see the provider of construction materials and equipment on this list because the company downgraded its earnings guidance for FY23 yesterday.

It now expects its pro forma EBITDA to be in the range of $150 million to $180 million.

That's a significant reduction from the previous guidance it issued for FY23, which came in between $180 million and $200 million.

The reasons for the downgrade were said to be heavy rainfall disrupting its operations and a shunted real estate market from the Reserve Bank of Australia hiking interest rates.

The Maas share price fell 5.44% yesterday but has bounced back strongly today.

Incitec Pivot Ltd (ASX: IPL)

The final ASX All Ords share to look at today is Incitec Pivot, which closed 5.88% higher to $3.96.

The jump came after the chemicals giant posted its full-year results for FY22 this morning.

Highlights from the report included its net profit after tax (NPAT), excluding individually material items (IMIs), growing 186% to $1.02 billion.

A fully franked final dividend of 17 cents per share was also announced, along with a share buyback program of $400 million that will be rolled out over the next 12 months.

Motley Fool contributor Matthew Farley has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended DGL Group Limited. The Motley Fool Australia has recommended DGL Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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